Retirement Systems of Alabama Reduces Position in ManpowerGroup Inc. (NYSE:MAN)

Retirement Systems of Alabama trimmed its holdings in ManpowerGroup Inc. (NYSE:MAN) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,422 shares of the business services provider’s stock after selling 1,239 shares during the quarter. Retirement Systems of Alabama owned approximately 0.32% of ManpowerGroup worth $11,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 375 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ManpowerGroup during the second quarter valued at $47,000. Innealta Capital LLC bought a new position in shares of ManpowerGroup in the second quarter worth about $50,000. Capital Performance Advisors LLP purchased a new position in ManpowerGroup in the 3rd quarter worth about $54,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in ManpowerGroup by 34.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after buying an additional 203 shares in the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Stock Performance

Shares of MAN stock opened at $59.36 on Tuesday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 75.14 and a beta of 1.45. ManpowerGroup Inc. has a 52-week low of $59.32 and a 52-week high of $80.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $64.23 and its 200 day moving average is $69.14.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. On average, sell-side analysts anticipate that ManpowerGroup Inc. will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $1.545 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 10.41%. ManpowerGroup’s payout ratio is currently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. The trade was a 12.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

MAN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. UBS Group reduced their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, Truist Financial lowered their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.60.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.